€ / CHF: below 1.24

Long term: lower

On a yearly basis, Bollinger band spread is expending. A PEI is in progress with our moving averages. A new Historical low is expected.

On a quarterly basis, a type II is in progress.

On a monthly basis, a type III is in progress.

Idea: use monthly bearish parallel rules

Bet: lower on a yearly basis.

R = PM (1.3241); S= 1.2402 (Historical low), LM (1.2045), –

Medium term: flat

nend of a month, LM (1.1619222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222

On a weekly basis, Bollinger bands are flat. TAM tools will continue to decline. Below PW, more weakness is ahead.

Idea: as long as MW = resistance, a rise is only a technical recovery

Bet: next month, a new bear trend is not ruled out.

R = MW (1.2859); S = PW (1.2487)

Short term: lowerlrt term: no trend965Y (1.4243amilliales) enance personnelle.tellis

On a daily basis, a PEI is in progress with our moving averages.

Idea: lower as long as our MACD is not oversold

Bet: PEI with our MACD.

R = MD (1.2805); S = PW (1.2487)

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